Bank of America to pay out $72.5m over Epstein lawsuit
Bank of America has reached a $72.5m settlement in a lawsuit brought on behalf of victims of Jeffrey Epstein. The lawsuit had accused the bank of facilitating his sex trafficking operation.
The proposed class-action lawsuit was filed in October by a Florida woman who says she was abused by Epstein "on at least 100 occasions" between 2011 and 2019 and held two accounts at Bank of America at the direction of his business team. The lawsuit alleged that the bank had "a plethora of information regarding Epstein's sex trafficking operation but chose profit over protecting the victims". Bank of America says the settlement makes "no admission of liability" or "wrongdoing" on its part. Sigrid McCawley, a lawyer for the victims, said the resolution was "one more step on the road to much deserved justice". The lawsuit, brought on behalf of a "Jane Doe", cites a record of "incredibly alarming and erratic banking behaviour" in her own Bank of America accounts, which were used by Epstein's team. She says she met Epstein in Russia in 2011, and was controlled and sexually abused by him up until his death in jail in August 2019. The lawsuit also points to more than $150m paid to Epstein by billionaire Leon Black, co-founder of Apollo Global, for "purported 'tax and estate planning advice'", via Black's Bank of America account. Bank of America had previously urged the court to dismiss the lawsuit, saying it had provided routine services to people who at the time had no known links to Epstein, calling the complaint "threadbare and meritless".
The settlement was reached earlier this month, but details of the deal had not been
Quick Summary
Bank of America is facing a lawsuit brought on behalf of Jeffrey Epstein's victims. The suit alleges the bank facilitated his sex trafficking operation - but what information did they have?
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